China has dropped to the third position as a holder of US Treasuries, with the UK surpassing it as the No. 2 overseas owner.Foreign purchases of US Treasuries saw a second consecutive increase in March, reaching a new record high before the turmoil in April.Total overseas holdings of US Treasuries rose to $9.05 trillion, with the UK overtaking China for the first time in over two decades.Japan, the UK, Canada, Belgium, and the Cayman Islands were among the countries that saw their holdings of US Treasuries rise in March.